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Passenger Boarding Bridge (PBB) Market worth 1,078.0 Million USD by 2021

03-16-2018 12:24 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

The report "Passenger Boarding Bridge (PBB) Market by Application (Airport, Seaport), Drive System(Hydraulic, Electro-mechanical), Structure (Glass walled, Steel walled), Model (2 Tunnel, 3 Tunnel), Type (Fixed, Movable), Product and Region - Global Forecast to 2021",

The passenger boarding bridge market is estimated to reach USD 1,078.0 Million by 2021, at a CAGR of 7.5% between 2016 and 2021.

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This growth can be attributed to increasing passenger traffic, airport modernization programs, and reducing turnaround time of aircraft. These factors are driving the demand for passenger boarding bridges in airport and seaport applications, globally.

“The airport segment dominates the passenger boarding bridge market, among applications”

The passenger boarding bridge market is dominated by the airport application segment, as of 2016, and is expected to continue its dominance till 2021. This dominance can be attributed to the rising passenger traffic, airport modernization programs, and greenfield runway projects.

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“The apron drive bridge segment to grow at the highest rate during the forecast period”

The passenger boarding bridge market has been segmented and analyzed on the basis of product, namely, apron drive, commuter, nose-loader, and t-bridge.. The passenger boarding bridge market is dominated by the apron drive segment, and this segment is also projected to grow at the highest CAGR during the forecast period, primarily driven by the increasing use of apron drive by most of the airports, globally.

“Asia-Pacific and the Middle East to be opportunistic markets for passenger boarding bridges”

The Middle East and Asia-Pacific are expected to drive the global passenger boarding bridge market in the coming years, with the Asia-Pacific market projected to grow at the highest CAGR during the forecast period. This rapid growth of the Asia-Pacific region can be attributed to increasing research & development activities undertaken in the region for the development of technologically advanced passenger boarding bridges to provide safety to passengers and control passenger traffic at the airports.

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Major players in the passenger boarding bridge market have been identified as JBT Aero Tech (U.S.), ThyssenKrupp AG (Germany), CIMC Group Ltd (China), and Adelte Group S.L (Spain), among others.

MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

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